European shares inch up helped by H&M and Shire

miércoles 6 de abril de 2016 11:25 GYT
 

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) Updates prices)

* FTSEurofirst 300 index gains 0.3 percent

* H&M advances after encouraging update

* Healthcare top sectoral gainer led by Shire

By Atul Prakash

LONDON, April 6 (Reuters) - European equities inched higher on Wednesday after steep declines in the previous session, with the retail sector boosted by a smaller-than-expected fall in profits at Hennes & Mauritz.

Shares in the world's second biggest clothes retailer rose 4.9 percent after sit said the impact of U.S. dollar strength had started to wane and should turn neutral or slightly positive by the fourth quarter.

Healthcare was the top sectoral gainer, up 1.9 percent, after U.S. drug maker Pfizer pulled out of a $160 billion deal to buy Allergan, in a victory for U.S. President Barack Obama's drive to stop tax-dodging corporate mergers.

Shire, which plans to buy Baxalta in a $32 billion cash and stock deal that will make it one of the world's leading rare disease specialists, was up 4.4 percent.   Continuación...